Securities Infringement Judicial Relief System Study

Since its founding in1990, Chinese securities market has achievedremarkable result. But in the security market,there are some serious violations,particularly the behavior of violating the rights of investors, the legal rights ofthe investors need to be relieved. However our existing legal system is relativelylags behind, the compensation lawsuit system of the securities tort is not perfect,and the judicial relief system for the investors`rights existed seriously lack andblank, so that the securities tort behaviors happened again and again. So it isurgent to perfect our juridical relief system of securities infringement.Facing the present legislation shortage, the author introduces the presentsituation of the judicial relief system in China for the securities infringement,mainly from the judicial relief mode, namely securities tort litigation form hasbeen limited to separate lawsuits and joint action mode, it can't resolve thesecurities tort litigation reasonably and effectively whose characteristics aresmall claims and large scale. At the same time, the existence of the precedingadministrative procedure and the limitations of the acceptance scope ofsecurities infringement cases in judicial practice, make protection of party`srights difficult to implement. And through the in-depth research for matureinternational securities market system and relevant practice result, which mainlyinclude the class action,organization action,elected representative action, thearticle tries to learn from foreign advanced experience, so as to promote oursecurities tort judicial relief system, effectively protect the investors interestsand safeguard the healthy and orderly development of the securities market.Based on the above analysis and discusses, this article has put forward thefollowing suggestions: first of all, the reform of our existing judicial reliefsystem of securities tort, including the cancellation of preceding procedure, theexpansion of the case acceptance scope, and adoption the class action system ofAmerican that is been used to improve our representative action; Secondly,though drawing on the experience of the German organization action, establishsecurities Public Interest Action system of China; Finally, strengthen the practice application of securities arbitration system to develop the effectivealternative solutions. The author hopes the advice can provide some referencefor the construction of the judicial relief system of securities tort.